WASHINGTON (AP) — The head of the International Monetary Fund said Thursday that the world economy has proven surprisingly resilient in the face of higher...
WASHINGTON — The head of the International Monetary Fund said Thursday that the world economy has proven surprisingly resilient in the face ofis down but not gone,'' Kristalina Georgieva told reporters at the spring meeting of the IMF and its sister organization, the World Bank. In the United States, she said, “the flipside'' of unexpectedly strong economic growth is that it ”taking longer than expected'' to bring inflation down.
On Tuesday, the IMF said it expects to the global economy to grow 3.2% this year, a modest upgrade from the forecast it made in January and unchanged from 2023. It also expects a third straight year of 3.2% growth in 2025.The world economy has proven unexpectedly sturdy, but it remains weak by historical standards: Global growth averaged 3.8% from 2000 to 2019.
She also cited in many countries an aging "labor force that doesn't bring the dynamism'' needed for faster economic growth.The United States has been an exception to the weak productivity gains over the past year. Compared to Europe, Georgieva said, America makes it easier for businesses to bring innovations to the marketplace and has lower energy costs.
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